Jay P. Reid
Partner
Experience
Jay's focus is on:
- Advises issuers, financial advisors, boards of directors and special committees of board of directors on business combinations, reorganizations, mergers, takeovers, arrangements, amalgamations, related party transactions, spinout transactions, activist shareholder activities and corporate governance matters
- Advises corporations and underwriters on the private and public issue of securities, including initial public offerings, secondary offerings, private placements, venture financing and rights offerings
- Secured listings for companies on the New York Stock Exchange, Toronto Stock Exchange, TSX Venture Exchange and NASDAQ (National Market)
- Recent transactions include acting for issuers, boards of directors and special committees regarding acquisitions and divestitures, mergers, arrangements and takeover bids involving public and private entities, shareholder activism and acting for underwriters or the issuing corporations in private and public entity financings
Jay's recent transactions include acting for underwriters or the issuing corporations in numerous private and public entity financings, acting for issuers, boards of directors and special committees regarding the reorganization of existing companies, mergers, arrangements and takeover bids involving public entities.
Community Involvement
Jay's community involvement includes:
- Corporate Secretary, Calgary Flames Alumni Association
- Member, Organizing Committee, Calgary Flames Alumni Association, Masters Golf Tournament and Reception for Charity 2009-2025
- Fundraiser and Volunteer, Hockey Canada Foundation, including Chair, Hockey Canada Gold Medal Gala, June 2008; Co-Chair, Hockey Canada Pre-Olympic Gala, August 2009; and Organizing Committee 2013 Hockey Canada Foundation Gala
- Corporate Secretary of Advantage Energy Ltd. (TSX)
- Corporate Secretary of various private issuers
Professional involvement
Professional and firm associations
- Member, Law Society of Alberta
- Member, Canadian Bar Association
- Member, Calgary Bar Association
- Member, BD&P's Compensation Committee
Presentations
Jay has also presented at various conferences, panels, seminars, and other events, including:
- Shareholder Rights Protection Plans, Corporate Counsel and Business Law Sections, Canadian Bar Association, March 2012
- Techniques for Bridging Value Gaps - Contingent Value Rights and Other Techniques, Advanced Mergers and Acquisitions Conference, December 2011
- The Board's Role in Special or Unusual Situations, Panel Member, Institute of Corporate Directors Alumni Event, May 2011
- Fairness Opinions, Petroleum Acquisition & Divestment Association, Energy Society, December 2010
- Tactics for Launching and Defending Against Hostile Takeover Bids, Advanced Mergers & Acquisitions Insight Conference, December 2009
Representative work
Sale of Vesta Energy
Counsel to Vesta Energy Ltd. (approximately $700 million enterprise value) in its sale to Parallax Energy Operating Inc. by way of Plan of Arrangement.
CGF $200 million investment in Entropy
Counsel to Entropy Inc. and Advantage Energy Ltd. in connection with its strategic investment agreement with Canada Growth Fund Inc. (CGF) pursuant to which CGF agreed to make a direct investment of $200 million in Entropy, along with a 15-year fixed-price carbon credit purchase agreement of up to one million tonnes per annum.
Brookfield Renewables $300 million Investment Agreement with Entropy Inc.
Counsel to Entropy Inc. in respect of the $300 million investment agreement between Entropy Inc. and Brookfield Renewable to scale up the development of Entropy's carbon capture and storage technology.
RIFCO Inc contested shareholder meeting
Acted as an independent Chair of the contested annual general and special meeting of the shareholders of RIFCO Inc.
AgJunction Inc. sale to Kubota Canada Ltd.
Counsel to AgJuncation in its $91 million sale to Kubota Canada Ltd., a subsidiary of Kubota Corporation of Japan, by way of a Plan of Arrangement
$220 million acquisition of UGR Blair Creek Ltd.
Counsel to UGR Blair Creek Ltd. in its $220 million acquisition by Painted Pony Petroleum Ltd.
Paramount Resources Ltd.'s merger with Trilogy Energy Corp.
Independent counsel to the special committee of independent directors of Paramount in its $2.8 billion merger and related party transaction with Trilogy completed by plan of arrangement.
Perpetual Energy Inc.'s restructuring and settlement of convertible debentures
Counsel to Perpetual Energy Inc. regarding recapitalization transactions, including a $25 million backstopped rights offering, settlement of 7.00% convertible debentures and a successfully contested Alberta Securities Commission hearing. (Re Perpetual Energy Inc., 2015 ABASC 2)
AgJunction Inc. merger with Novariant Inc.
Counsel to AgJunction Inc. regarding its merger with Novariant Inc. pursuant to a plan of merger under the laws of the State of California.
Toscana Energy Income Corporation's acquisition of Toscana Financial Income Trust
Independent counsel to the special committee of independent directors of Toscana Financial Income Trust in the $34.3 million acquisition and related party transaction by Toscana Energy Income Corporation completed by a plan of arrangement.
Spartan Energy Corp. acquisition of Renegade Petroleum Ltd.
Counsel to Renegade Petroleum Ltd. in the $495 million acquisition by Spartan Energy Corp. pursuant to a plan of arrangement.
TriWest Capital Partners investment in HPC Energy Services Ltd.
Counsel to HPC Energy Services Ltd. in a Plan of Arrangement whereby TriWest Capital Partners acquired a majority interest in HPC Energy Services Ltd. for an undisclosed amount.
Renegade Petroleum Ltd.'s $420 million strategic acquisitions
Counsel to Renegade Petroleum Ltd. in the financing of a $420 million asset acquisition. The transaction included a plan of arrangement between Renegade Petroleum Ltd. and Canadian Phoenix Resources Corp. (including cash of $75 million), a bought deal offering of 30,104,300 subscription receipts for gross proceeds of $70.1 million and a private placement of 48,619,915 subscription receipts for gross proceeds of $114.3 million.
ORLEN Upstream Canada Ltd.'s acquisition of Birchill Exploration LP
Counsel to ORLEN in connection with a $255 million acquisition of Birchill pursuant to a share purchase agreement.
Awards
Recent honours and recognition
Recognized by Best Lawyers in Canada in M&A and Corporate Law (2018-2025)
Named in Lexpert's special edition on Canada's leading energy lawyers (2020)
Martindale-Hubbell, Distinguished Rating (2003-2025)
Recognized in the Canadian Legal Lexpert Directory as a leading lawyer in corporate finance and securities (annually since 2014)
Named in Lexpert's special edition on Canada's leading corporate lawyers (2017)
Named in Lexpert's guide to the leading US/Canada cross-border corporate lawyers in Canada (2014-2017)
Named in America's most honored professionals - top 5% (2016-2025)
Publications
July 4, 2023
Ontario Court of Appeal Provides Guidance on Identifying "Material Change"
News
March 11, 2025
26 BD&P Lawyers included in the 2025 Edition of the Canadian Legal Lexpert Directory
August 29, 2024
52 BD&P lawyers recognized in the 2025 edition of Best Lawyers Canada
August 24, 2023
Forty-one BD&P lawyers recognized in the 2024 edition of Best Lawyers Canada
March 1, 2023
Recognition from Lexpert celebrates BD&P lawyers as recommended leaders in Canada
August 25, 2022
Thirty-five BD&P lawyers recognized in Best Lawyers in Canada, 2023 edition
April 23, 2021
Twenty BD&P lawyers recognized in the Canadian Legal Lexpert Directory 2021
October 27, 2020
Lexpert ranks a record number of BD&P partners and counsel among Canada's leading energy lawyers
August 27, 2020
Thirty-four lawyers recognized in the 2021 edition of the Best Lawyers in Canada guide
April 29, 2020
Twenty-three lawyers ranked in 2020 edition of the Canadian Legal Lexpert Directory
August 21, 2019
31 BD&P lawyers included in 2020 edition of Best Lawyers in Canada
May 3, 2019
Twenty-one lawyers ranked across seventeen practice areas in 2019 Canadian Legal Lexpert Directory
August 21, 2018